ICICI Bank raises $500 mln via Dubai bonds

ICICI Bank said it raised international debt $500 mln at an interest cost of 3.8%.

“The notes carry a coupon of 3.80% and were offered at an issue price of 99.728,” India’s second biggest private sector bank said.

The sale of the 10-year bonds was done through its DIFC branch in UAE.

The notes were sold under the 144A/RegS format.

ICICI Bank Ltd is India’s largest private sector bank by assets.

The Bank’s consolidated total assets stood at US$ 156.8 billion at September 30, 2017.

It has subsidiaries in insurance, asset management and securities brokerage companies and is present across 17 countries, including India.